Key Client Management. for. CBRE Property and Asset Management

Transcription

1 LEADERSHIP BUSINESS DEVELOPMENT CLIENT RELATIONSHIP MANAGEMENT Draft Proposal Key Client Management for CBRE Property and Asset Management Prepared for Richard Williams and David King By Paul Matthews and Paul Denvir The PACE Partners LLP PACE House Churchfield Road Walton-on-Thames Surrey KT12 2TZ t +44 (0) f +44 (0) e tpp@thepacepartners.com The PACE Partners LLP London England

2 Contents Background and understanding 1 Suggested way forward the core key client management workshop 3 A guide to investment 6 Options 7 Expected outcomes 10 Why PACE 11 Appendix Standard Terms of Working The PACE Partners LLP London England

3 Background and understanding It was a real pleasure meeting David King and Richard Williams recently to discuss key client management within the team and how the PACE approach would fit. Below are the key points stemming from our meeting:! There is currently a focus on re-organising, re-igniting and developing the people within the Property and Asset Management team.! There is a drive to grow, with the target of doubling the business over the next five years! Some of this will come from winning new clients and some will come from implementing a robust practical approach to key client management! Client contact/engagement has, to a degree, been lost (or overlooked) over the last five years! The average age of the team is relatively high and a large majority of the team are not client focused! There is a desire now to get back to focusing on the clients! The team need to start engaging with the clients and to start thinking about what is really important to them! The team have recently acquired some new talent! There is a mixed level of skills and confidence within the team when it comes to key client management, consultative selling and cross-selling! There are three main key clients, PRUPIM (recently won), Global Investors (who feel as though they are treated as an in-house client) and Aberdeen Investors! Below these three clients the next biggest generates fees of about 500k. You aim to fill the gap between the largest clients and the much smaller ones below them through focused business development activity mainly carried out by David and Richard! There is a real need and desire to implement best practice key client management with the top three key clients - and with three further clients with growth potential! Currently there is no formal process or structure in place for managing the key clients - no effective key client plans! Different offices and regions are involved and these need to be coordinated and managed so that each client experiences a joined up approach 2012 The PACE Partners LLP London England

4 Background and understanding (continued)! Consistency is required across the offices and across the team.! It was agreed that obtaining client feedback including each client/contact s current thoughts and perceptions of the CBRE team - would be very valuable both for the programme and for key client management generally! In addition to a practical process for key client management, individuals within the team need to develop client relationship skills to help them interact and engage with the client in a more effective way! In the next section we have outlined a core key client management programme which will provide a practical, structured best practice approach to key client management and will be applied to the top three clients (in separate workshops) and to the three clients identified with growth potential (together in one workshop)! In the section titled Options we have outlined suggestions for the other areas we discussed including client feedback, skills development and implementation review. All of which will add real value to the programme and to the embedding of key client management into the team 2012 The PACE Partners LLP London England

5 Suggested way forward the core key client management workshop Best practice key client management Focus This core workshop will focus on the key clients selected. Three individual workshops for the top three and one further workshop for the three selected clients with high growth potential. Duration One and half days Style The workshop will be extremely interactive and practical and all discussions and tools will be focused on the selected key clients. The workshop will be a mix of best practice processes, practical tools and techniques, discussion, client team activities, application of the tools, client analysis, action generation, creation of the key client plans and agreement to the way forward. Attendees Client teams for each key client made up of the key client manager and core members for each client team. Number of delegates For the workshops focusing on one key client a maximum of 12 For the workshop for the three growth clients a maximum of 18 Key elements of the workshop A consistent, structured best practice approach to key client management. Here we will discuss and develop a full understanding of all the core elements that are involved in truly excellent Key Client Management. Outcome: An agreed consistent approach to best practice key client management Understanding the client Working in client teams the delegates discuss and share the critical success factors for the client, what is important to the client, the factors that affect the client s business, how the client is measured and the client s vision and strategy. These insights will be used throughout the programme to ensure that what CBRE is offering stands out from the competition and is always focused on helping the client - in areas vital to the client and in the correct context. Outcome: A shared understanding of what is really important to the client and how CBRE will help the client achieve its key objectives 2012 The PACE Partners LLP London England

6 Suggested way forward the core key client management workshop (continued) Best practice key client management CBRE s aspirations Client teams agree where they would like to be in two to three years with the client. They discuss and agree:! fee income and profitability levels over the next two to three years,! how they want to be perceived and what levels of relationships they want,! the types of service they want to be providing,! the major opportunities that exist,! the areas of the client they want to be working in,! what further insight into the client they need and! how they will differentiate from their competitors. Outcome: A very clear and shared vision of where CBRE will be in two to three years within the client Identifying key people and building strong relationships PACE share some extremely practical tools to help facilitate, plan and agree actions around who you know and who do you need to know within the client. This includes identifying allies, coaches and potential enemies and blockers. More importantly we facilitate and help with how to meet with the individuals you don t know, how you influence the key players and how to build extremely strong relationships at all levels within the client. Outcome: Specific actions to develop multi-level relationships and deal with potential blockers within the client Improving your service to clients PACE facilitate and steer the client teams to fully understand the expectations of the client at different levels and actions are generated by the client teams in how to delight the client, exceed the client s expectations at every point of contact and stand out from the competition. Outcome: Specific actions to delight the client in performance delivery at every level within the client and to ensure regular feedback is gained, shared and actioned to ensure continual improvement and added value in the eyes of the client Strengthening the relationship and becoming/remaining the client s preferred supplier Using another practical PACE tool the client teams discuss and agree additional ways of strengthening the overall relationship with the client, and how to protect the relationship from approaches by the competition. Outcome: Specific actions to strengthen and protect the relationship with the client and to become the client s trusted advisor and supplier of choice 2012 The PACE Partners LLP London England

7 Suggested way forward the core key client management workshop (continued) Best practice key client management Identifying and winning the best opportunities PACE share best practice marketing - what works and what does not, what the client values and where to focus marketing/positioning activities. Client teams decide how to improve cross-selling in their client, how to win the best opportunities and how to ensure they are in pole position for all the work they want to win, including mastering the client s decision making process. Outcome: The client teams agree a marketing plan for the client, select the major opportunities they will target, decide how they will differentiate and decide on the specific actions and tactics they will apply to win these opportunities, where the profitable fee income will come from and how to achieve the desired growth Key client planning PACE introduce a best practice, practical format for a concise, user friendly key client plan that will be easily updated and implemented. The client teams use the format - based on all their discussions, analysis and generated actions so far - to create a practical, specific key client plan for each of their selected key clients. Outcome: Practical key client plans for each of the key clients, including a vision, SMART objectives and SMART actions focused on application and implementation Embedding a truly client focused culture within CBRE Having worked with professional service firms for over 20 years on best practice key client management, PACE share what absolutely needs to be in place to ensure that key client management thrives within the Property and Asset Management team of CBRE. The client teams agree what now needs to happen to keep this alive and ensure it becomes part of the ethos and culture. Outcome: Agreed next steps and actions with regard to living key client management, prioritising time for it, involving others, cascading throughout the firm, measuring its implementation, sharing successes and embedding key client management as part of CBRE s culture 2012 The PACE Partners LLP London England

8 A guide to investment Your investment for this programme is at the 2012 delivery day rate of 3,000(+VAT) and 1,500(+VAT) for half days. For budgetary purposes the only other investment will be for the venue and associated travel and accommodation needs. Invoices will be raised separately for each workshop. Many of our clients select to purchase the PACE Managing Key Clients book for team members. These books provide an excellent reference in addition to the workshop notes and material and are kept and referred to constantly over many years. These are available at 25 each. All other terms and conditions are as per our Standard terms of working. Your investment includes:! Programme writing! Material production! Workshop delivery! Review meetings! Full project management We also discussed a few other elements to the programme which we have outlined in the next section The PACE Partners LLP London England

9 Options The three other elements we discussed that are incredibly powerful to help embed key client management and would add considerable value to the programme and its outcomes were:! Implementation and progress reviews! Client relationship, consultative selling and cross-selling skills development! Client insight and feedback reviews Implementation and progress review Style and rationale This element of the programme will maintain momentum and focus on key client management and will provide an opportunity to review progress with the key client teams. We believe this is an essential element of the programme. Depending on budget and your preference these reviews can be held in a half-day format for each individual client team or over a day where three teams attend each day. Key elements of the workshop! Each key client team to present back on their progress against their agreed key client plan and agreed actions! Share learnings! Celebrate successes! What s worked well and not so well?! Discuss any barriers faced and how to overcome them! Refresh and update the key client plan! Challenge and coaching from PACE to the teams regarding their plans! Agree the next steps and way forward Timings We would recommend there is a 12 week interval between the initial workshop and the implementation review to allow for application and implementation of the key client plans and agreed actions The PACE Partners LLP London England

10 Options (continued) Client relationship, consultative selling and cross-selling skills development Style and rationale This workshop will focus on developing the essential skills involved in building client relationships, becoming the trusted advisor, identifying opportunities and consultative and cross-selling. These skills will maximise the effectiveness of the individuals involved in key client management and provide them with the confidence and motivation to implement the key client plans. The workshop will be extremely interactive and practical and will involve a combination of introduction and development of best practice skills, techniques and behaviours, group discussion, group and individual practice, practice client meetings around real client scenarios, coaching, feedback and creation of personal development plans. Attendees Those individuals involved in and responsible for the management, protection and development of clients. No of delegates Ideal number of delegates: 9 Maximum number of delegates: 12 Duration Two days Key elements of the workshop! Defining consultative selling! Understanding how to build the client s motivation to buy! Fully understanding each client s requirements both needs and wants! Building trust and becoming a trusted advisor! PACES a structured approach to consultative selling! Developing essential consultative selling and relationship building skills such as questioning, active listening and funnelling! Reading and using body language! Client engagement! Interactive exercises to hone and develop these skills! Identifying opportunities! Summarising and reflecting! Preparation for a meeting! Identifying key areas to explore! Beginning a meeting! Developing and practising how to position and differentiate themselves, their department and CBRE through a positioning statement! Structure of a meeting! Maximising the time available! Gaining information and full insight into a client! Practice meetings based on real clients of CBRE! Coaching and feedback on the client meetings and skills application! Gaining client commitment! Personal action planning Timings This workshop can take place at any point in the process, however most clients choose to run it approximately four six weeks after the initial workshop The PACE Partners LLP London England

11 Options (continued) Client insight and feedback reviews Rationale Client feedback is a key part of client management and will be hugely valuable to the teams in understanding how they are perceived, what they can do differently to delight the client and what other opportunities exist within the relationship. The insight gained from these meetings can then be used during the programme and almost always provides information and insight to the client team that is new and enhances their understanding of the client and their discussions and plans going forward. We would agree which key areas would be explored - with you and the key client managers - before the client insight meetings. Some of the key areas we often explore are:! What is really important to the client! Factors affecting their business! The client s strategy, objectives and future plans! The client s critical success factors! The client s perception of CBRE with regard to:! How they see you! The type of relationship they would like! Their current understanding of your capabilities! Your strengths and weaknesses compared with the competition! The client s feedback with regard to your delivery vs their expectations! The client s likes, dislikes and what they would like CBRE to do differently! Anything else the client would like to share We often find that the client is more willing to open up to us (as a third party) than they are with their usual contacts. We also often discover they have never been asked these important questions before. Sometimes the meetings provide a vehicle for getting in front of client contacts at levels that may never have been engaged by CBRE before. The programme is extremely powerful and succeeds without these insight meetings, however we definitely find that holding these meetings pre-workshop significantly benefits the team, their insight into the client, their discussions and ultimately their plans going forward. Guide to investment for additional options For the implementation and progress reviews the day rate and half-day rate are as before and your investment for face to face client insight meetings would be 750 each The PACE Partners LLP London England

12 Expected outcomes Below we have listed a summary of some of the outcomes we anticipate will be achieved:! A practical, structured effective approach to Key Client Management! Key client teams who fully understand all the key elements and core aspects of key client management! Key client teams managing, protecting and developing their key clients! Client teams sharing information and working as a team! Joined up teams working across offices and regions! Robust, practical, living breathing client plans that are being updated and implemented! New services being introduced to the clients! Multi-level relationships, including at the senior levels! Delighted clients! Clients seeing added value in working with CBRE! Individuals who prepare fully for client meetings and who know how to begin and conduct a meeting in an effective way! Individuals with the ability to articulate confidently what the firm does, how it helps its clients and differentiates itself! Individuals with a full understanding of consultative selling, cross-selling and excellent client relationship skills! Individuals who maximise their client facing situations! A team who build trust, develop relationships and who know how to become trusted advisors! Clients who can tell the difference between your people and those of your competitors! A team who listen to the client, fully understand the client and are comfortable with presenting solutions only when the client is ready! Individuals becoming preferred suppliers to delighted clients! A team generating real tangible results! A team that is confident, motivated and effective in growing the business through the generation of profitable work from existing clients! Increased profitable fee-income from your key clients! Sustained and accelerated growth 2012 The PACE Partners LLP London England

13 Why PACE Insight The time they invested to truly understand our business, our people and our clients meant that all their work was entirely relevant and tailored to our situation and our plans for the future National UK Law Firm Style PACE people are not just trainers. They are people who have done it and have the ability to inspire others to do it. They are just like us and experience the same challenges. Our people listen to and respect them. Top 10 Accountancy Firm Motivation PACE are the only people who have inspired our most cynical and lowest of low-reactors! I am amazed how PACE gets these people fired-up, inspired and actually doing things. International Actuarial Practice Before PACE s pre-programme assignment meant that we started with client issues we were currently dealing with. Coupled with the pre-course reading, it meant we hit the ground running and no time was wasted on preambles. We got straight into applying the PACE thinking to real opportunities. Engineering Consultancy During Their enthusiasm, energy and passion meant that, whilst the programme was challenging, it was also fun. It stuck with me and was all the easier to apply back in the office. Property Consultancy After The actions were easy to implement. They kept the thinking fresh. PACE also returned periodically to help with areas we were finding challenging. Their surgeries and coaching helped me to keep on track with my objectives. Accountancy Firm 2012 The PACE Partners LLP London England

14 Appendix Standard Terms of Working The PACE Partners LLP (PACE) provides in house development programmes and consultancy assignments for the training and development of people. In cases of in house training, with a view to the Client benefiting as much as possible from the services of PACE, tailored programmes are invariably created to meet the Client's specific problems and needs, and/or consultancy assignments are undertaken. This demands long term planning on the part of PACE to make it possible to utilise the maximum experience and knowledge of its partners and consultants. To achieve this, the following are required:! planning well ahead of each programme.! comprehensive preparation work. For these reasons the following conditions are applicable for in house training or consultancy work: 1 Equipment All stationery and programme material will be provided by PACE where necessary. In instances where PACE has its own video equipment and films available on the dates the programme is being run, such equipment and films will be supplied by PACE. Otherwise TV and video equipment and films will be charged according to daily rates applicable at the time. Other equipment, i.e. overhead projector, screen, etc., will be provided by the Client free of charge. When required to be retained by delegates, blank videos or audio tapes will be invoiced to the Client at cost. 2 Copyright All training material, case studies and working documents remain the property of PACE and may not be reproduced or passed on to any party without prior written agreement of PACE. 3 Invoices Invoices will be submitted on reservation of the agreed programme. All payments must be made to The PACE Partners LLP (not to individuals by name) at least 14 days before the commencement date of the programme. If the account is unpaid on the date the programme is to commence PACE reserves the right to withdraw the services of their staff. In this instance the original invoice will still be deemed payable by the Client. 4a Deferrals and variations If the Client requests a programme to be deferred to a date commencing more than six months after the initial booking or on an indefinite basis, this will be treated as a cancellation and the provisions of Clause 5 will apply The PACE Partners LLP London England

15 Standard Terms of Working (continued) 4b If the Client requests a programme to be deferred to a date commencing less than six months after the initial booking and such a request is received by PACE in writing less than 30 days before the agreed commencement date of the programme, the Client shall be liable to pay the full programme fee in accordance with Clause 3. If the request for such a deferral is received more than 30 days but less than 90 days before the agreed commencement date of the programme, the Client shall be liable to pay 50% of the programme fee in accordance with the original agreement and 50% at the time of the newly agreed dates - and in accordance with Clause 3. In the case of such a request being received more than 90 days prior to the agreed commencement date the Client shall be liable to pay the full programme fee at the time of the newly agreed dates - and in accordance with Clause 3. In addition, PACE reserves the right to charge the Client in respect of any additional costs (including labour and material costs and conference facility cancellation fees) incurred in connection with the deferral and presentation of the programme at a later stage. 4c If, after a training programme has been agreed between PACE and a Client, the Client requests a variation in the programme which entails additional preparation on the part of PACE, PACE reserves the right to make such additional charge in respect of such variations as PACE thinks fit. 5 Cancellation of a programme Cancellation of a programme cannot be accepted after a date which is 40 days prior to the agreed date of commencement of a programme and if the Client purports to cancel a programme during such a period the full programme fee shall be payable even if the original agreement was made within that period. However, PACE is prepared to accept a cancellation provided it is made in writing and it is received more than 40 days prior to the commencement of the programme on the basis that in lieu of the full programme fee the Client will pay to PACE a cancellation charge by reference to the following scale: Number of days cancellation notice prior to charge course: days 50% of total programme fee days 20% of total programme fee plus, in either case, the actual material and labour costs of PACE incurred to the date of receipt of cancellation in connection with the agreed programme. Any cancellation charge shall be due and payable by the Client seven days after the date of PACE's invoice in respect thereof. 6 Shortening of a course or training programme For any part of an agreed programme that has been subsequently cancelled the conditions for cancellation above shall be applicable on a pro rata basis as determined by PACE The PACE Partners LLP London England

16 Standard Terms of Working (continued) 7 Travel expenses and other allowances for PACE consultants These costs will be charged separately. They will in each case depend to some extent on where the consultant is based. 7a Travel expenses Travel is made either by air (club class if more than three hours flight, first class if more than eight hours flight), rail (first class) or car as considered appropriate by PACE. The allowance charged for a car is 65 pence per mile. This may be subject to review. 7b Accommodation The Client shall provide accommodation and food at a reasonable, high standard. When the Client does not provide accommodation and food, the actual costs of each consultant will be charged. 8 Conference costs All outlays and disbursements incurred by PACE in connection with a programme (including hotel conference facilities) will be charged to the Client. 9 Material and labour Any determination made by PACE as to the amount of its material and labour costs shall be conclusive and binding on the Client. 10 Nominated consultants PACE will make every effort to comply with the wishes of the Client in respect of the consultant(s) involved in carrying out the programme. However, PACE reserves the right to make the final decision as to which consultant(s) will be involved. In the event of a consultant being unavailable at short notice to run a programme (caused by illness, accident or any other unforeseen event) PACE will make every attempt to provide a substitute consultant. The substitute consultant will be ready to commence the programme no longer than half a working day after the scheduled commencement time. If the substitute consultant is in place within this time, the programme will proceed as originally planned. This facility applies only for programmes running in mainland UK. 11 Non-payment Non-payment of an invoice by the due date (as outlined in previous clauses of these terms of working) represents a breach of the contract and can be treated as such. However, as a small firm carrying out work for much larger organisations, we rely on the goodwill of our Clients to make prompt payment The PACE Partners LLP London England